The USDJPY activates the positive pattern – Analysis - 20-10-2021
The USDJPY pair managed to breach the bullish pennant’s resistance to rally bullishly and achieve the expected target at 114.70, and we suggest the continuation of the bullish bias to reach 115.00 barrier as a next station, noting that breaching this level will extend the bullish wave to reach 115.55 as a next main target.
Holding above 114.10 is important to continue the expected rise, as breaking it will press on the price to achieve temporary decline and test 113.25 areas before any new attempt to rise.
The expected trading range for today is between 113.90 support and 115.20 resistance
The expected trend for today: Bullish
The GBPUSD surpasses the extended target - Analysis - 20-10-2021
The GBPUSD pair succeeded to surpass 1.3795 and build support base above it, which supports the continuation of our bullish overview efficiently on the short term and medium term basis, paving the way to head towards 1.3910 that represents our next target.
The EMA50 continues to support the price from below to reinforce the expectations of achieving more rise in the upcoming sessions, noting that breaking 1.3795 will press on the price to decline towards 1.3720 areas before any new attempt to rise.
The expected trading range for today is between 1.3750 support and 1.3900 resistance.
The expected trend for today: Bullish
The EURUSD gathers the positive momentum – Analysis - 20-10-2021
The EURUSD pair begins to provide positive trades now, in attempt to resume the expected bullish trend for the upcoming period, as stochastic managed to get rid of the negative momentum and gain positive momentum that we are waiting to assist to push the price to achieve gains in the upcoming sessions, noting that we need to breach 1.1670 to confirm heading towards 1.1760 as a next target.
Therefore, we will keep our bullish overview unless breaking 1.1525 and holding below it.
The expected trading range for today is between 1.1570 support and 1.1720 resistance.
The expected trend for today: Bullish
Evening update for Crude oil 19-10-2021
Crude oil price tested 81.75 and bounced upwards strongly to approach 83.85 level, which makes us continue with our neutrality until we get clearer signal for the next trend, noting that breaching the last level will lead the price to achieve more gains and resume the main bullish trend that its next target located at 85.00.